OptionsPlay DailyPlay

The bullish DailyPlay we chose for Wednesday March 21st is Applied Materials (AMAT). AMAT is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 1.52% move higher and its 1m and 6m trend has turned bullish on 2/15 and recently bounced higher off its $68 support level.

Applied Material’s 1m and 6m trends turned bullish on 2/15 and recently bounced off its $59 support level. With a technical score of 9 (out of 10), AMAT is a strong bullish stock that will likely continue higher.

View this Trade Idea on AMAT

As a stop loss, if AMAT was to trade below $59 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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